The latest in the last minute saga of the K-1 World Grand Prix Final 16 is that the show is probably cancelled. News has been leaking out over the past few days of possible last minute deals, possible shake ups internally and the World Grand Prix Final 16 being cancelled. It's Showtime was providing a wealth of talent under the idea that FEG would pay It's Showtime the money they owe them as well as the fighters' salary before the event could happen. Simon Rutz extended the deadline numerous times and the money still never made its way to them.

On Monday in Amsterdam Rutz is set to make a statement about the K-1 situation but many are expecting it to be "bad" news. It's Showtime has been focused this week on their January 28th event in The Netherlands which will feature the retirement of Badr Hari. Tickets went on sale this weekend and according to It's Showtime moving quickly, with the VIP tables sold out and a good portion of the seating in the arena sold out as well. There are murmurs of It's Showtime assembling a tournament of their own at some point, as waiting for K-1 to put together the World Grand Prix was their only hindrance.

According to sources in the It's Showtime circle there will not be a World Grand Prix Final 16 event, it will not be postponed to a later date.

There is talk of a December 10th date in China still happening, possibly being the Final 8 of the World Grand Prix, or simply a collection of K-1 Super Fights.

It needs to be remembered that all of this talk of the event being cancelled involves It's Showtime pulling out from the World Grand Prix. If K-1 has no back-up plan the chances of there being a World Grand Prix are indeed slim to none, but there is still a chance that other parties they've been talking with over the last week could come to the rescue for them, but it is a longshot at best it appears.

UPDATE: Michael Schiavello reports on his Twitter that he too has heard that the event is off.